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| Starting Price At $550 FOB In Q4 Japanese HR Coil Exports |
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There are forecasts that Japanese integrated steelmakers will set the starting price at US$550/ton FOB in the HR coil exports they negotiate for October-December shipments to Asian destinations while struggling to win a higher price level of US$600/ton FOB at the final stage. The Japanese steelmakers are set to begin studying what terms to offer next week toward their HR coil export negotiations with Asian customers on Q4 shipments. The negotiations are expected to start in the fourth week of August. The Japanese steelmakers have already won a price level of US$550/ton FOB in their negotiated HR coil exports for July-September shipments. Cases in point are HR coil exports to Vietnam and the Middle East for September shipments. In the Middle East, there are offers of HR coils from Russia and Ukraine at US$580/ton C&F for September -October shipments, according to market sources. It is uncertain whether the offers have brought firm deals. So far, no cases exist of a Russian or Ukrainian offer at US$600/ton C&F. At present, the Japanese steelmakers have strong inquiries from Taiwan's steel rerollers for HR coil supplies. In this connection, the Japanese steelmakers see a possibility that Taiwan's integrated steelmaker China Steel Corp (CSC) will execute another domestic price increase of HR coils for September-October shipments. CSC has priced up HR coils by NT$1,727 (US$52) to NT$16,822/ton (US$509) for July-August shipments. |
| last modified : Mon 03 Aug, 2009 [10:34] |
